Foreign investors are all-in on U.S. stocks right now.
Non-US holdings hit $24.32 trillion in July — near all-time highs. That's up $2.22 trillion (+10%) just this year.
Since the 2022 bottom? A staggering $12.3 trillion increase (+103%).
Here's the kicker: foreign investors now have 60% of their U.S. financial assets in equities. That's a record — and about 6 points higher than the peak of the 2000 Dot-Com Bubble.
This tells you two things:
1. Global capital still sees U.S. markets as the best game in town
2. Allocation levels are stretched into historically frothy territory
When everyone's leaning the same way, it's worth watching what happens if sentiment shifts. For now, though, the message is clear: the world is betting big on American stocks.
Non-US holdings hit $24.32 trillion in July — near all-time highs. That's up $2.22 trillion (+10%) just this year.
Since the 2022 bottom? A staggering $12.3 trillion increase (+103%).
Here's the kicker: foreign investors now have 60% of their U.S. financial assets in equities. That's a record — and about 6 points higher than the peak of the 2000 Dot-Com Bubble.
This tells you two things:
1. Global capital still sees U.S. markets as the best game in town
2. Allocation levels are stretched into historically frothy territory
When everyone's leaning the same way, it's worth watching what happens if sentiment shifts. For now, though, the message is clear: the world is betting big on American stocks.
